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Published on February 6, 2008

PTT president Prasert Bunsumpun said in a report to the Stock Exchange of Thailand that the company requested the Administrative Court on February 1 to extend the period required by the court by another 30 days after the establishment of the government's energy business regulators.

The Administrative Court ruled on Monday to allow the extension.

A PTT source said the return of PTT assets to the state required a certain period of time because there were legal and tax issues involved. PTT could not proceed with the court's order on time because Energy Minister Piyasvasti Amranand ordered the energy regulatory body to be set up faster than PTT had originally thought. The Cabinet decided on January 22 to set up the regulatory body after the Energy Business Act came into force only one and a half months ago.

PTT was to return assets such as pipelines and certain land plots back to the state after the Supreme Adminsriative Court ruled not to reverse PTT's privatisation but ordered the return of certain assets.

Meanwhile, PTT executive Jitpong Kwangsuksathit said that in two weeks the company would select contractors to construct an LPG (liquefied petroleum gas) depot with an investment worth Bt32 billion.

The LNG depot at Map Ta Phut Industrial Estate in Rayong will accept 5 million tonnes of imported LNG by 2011.

The depot will ensure a sufficient supply of LPG in Thailand.

The Nation